Bitcoin in Singapore: A Light-Touch Approach to Regulation
72 Pages Posted: 23 Apr 2014 Last revised: 23 Aug 2014
Date Written: April 11, 2014
Abstract
Bitcoin is a novel digital currency which is slowly gaining visibility. This paper sets out to answer some basic questions: What is it? How does it work? What are the risks? It introduces the Bitcoin technology, considers the call for regulation and answers it with a light-touch approach which bears the big picture in mind: looking at the micro, macro and international views of Bitcoin regulation while at the same time not quashing innovations like Bitcoin with heavy-handed regulation of manageable risks.
Keywords: bitcoin, virtual currencies, banking, consumer protection, regulation
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